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  • Thursday 1/8…Jobless Claims In

    by Victor Burek on January 08 2009, 8:17 AM
    Jobless claims report was released with first time filers coming in at 467k. Economists where expecting a much higher number of 550k. The 4 week moving average also came in slightly better at 525k but the continuing claims came in higher at 4.61million...
  • Wednesday 1/7…Will the Rally Continue

    by Victor Burek on January 07 2009, 8:12 AM
    Yesterday, mortgage backed securities went on quite a rally improving right at 100 basis points. On a day like that you would normally see many reprices from lenders lowering their rates, but we saw very few and some lenders even repriced for the worse...
  • Tuesday 1/6...What a Rally

    by Victor Burek on January 06 2009, 4:49 PM
    Mortgage backed securities rallied big time today up a full point. Even though price improved on mbs, we still had a few lenders reprice to the worse. The main cause for this is to control the pipeline. Rates should be much better then they are now, and...
  • Tuesday 1/6…Economic Data is In

    by Victor Burek on January 06 2009, 11:36 AM
    We just got the release of all the economic data for the day. First we got the release of pending home sales which dropped 4% to 82.3 when economists where expecting 88.0. This is bad news for housing, but keep in mind not many people are buying or selling...
  • Tuesday 1/6...MBS Open Higher

    by Victor Burek on January 06 2009, 8:00 AM
    We are getting the release of some economic data in an hour, so i will post back after that. Currently mortgage backed securities continue their trend higher and are up 8 ticks on the day. We should see better rate sheets this morning.
  • Monday 1/5…Fed Has Started to Buy

    by Victor Burek on January 05 2009, 9:31 AM
    In breaking news, the Fed has started its MBS buying. Details of how much they are buying will be released weekly. Currently mbs are up 9 ticks on the day but off the highs of up 16 ticks. Construction spending came in at -.6% vs expectations of -1.2...
  • Monday 1/5…The Week Ahead

    by Victor Burek on January 05 2009, 7:19 AM
    The upcoming week is full with economic reports, with the biggest impacting reports coming on Friday. Monday - Construction Spending, economists expecting a -1.2% drop after last months -1.2%. Tuesday - Factory Orders, economists expecting a -2.6% drop...
  • Friday 1/2…It’s 2009!!!!

    by Victor Burek on January 02 2009, 8:26 AM
    Happy New Year!!!! The mortgage backed security market is open today for a normal trading day. So far this morning, mbs are up, recouping all of the loses from Wednesday. We do get the release of one piece of economic date, the ISM index. This report...
  • Thursday 1/1...Happy New Year!!

    by Victor Burek on January 01 2009, 8:41 AM
    I hope everyone had a wonder New Years Eve. I for one am glad to be putting 2008 in the rear view mirror, and I am excited and looking forward to 2009. Markets closed today but will be open for normal trading hours tomorrow. The only report we get tomorrow...
  • Wednesday 12/31…Jobless Claims In

    by Victor Burek on December 31 2008, 7:57 AM
    This morning jobless claims came in much better then expected. Economists where expecting 550k, but the number came in considerably better at 492k. The 4 week average fell as well to 552k, but continuing claims came in higher at 4.5 million. Normally...
  • Tuesday 12/30...Breaking News

    by Victor Burek on December 30 2008, 3:58 PM
    The time frame for the Fed to start purchasing mbs is announced and will start in early January. On that new, mbs have skyrocketed higher regaining all of the loses from today and are currently up on the day. Float club is still in session. We are getting...
  • Tuesday 12/30…Ugly Start to the Day

    by Victor Burek on December 30 2008, 10:39 AM
    Mortgage backed securities are having a very ugly start to the day. Yesterday, mbs rallied early then sold off to close about where they opened but it appears the downward pressure will continue today. No real cause for the selling other then very light...
  • Monday 12/29…Another Shortened Holiday Week

    by Victor Burek on December 29 2008, 8:30 AM
    So far this morning, mortgage backed securities are continuing their winning ways and are higher on the day. Remember, as the price of mbs moves higher, the yield or mortgage rates, moves lower. This week is very light on data and is shortened due to...
  • Friday 12/26…Should be a Slow Day

    by Victor Burek on December 26 2008, 8:42 AM
    Mortgage backed securities opened basically where they closed on Wednesday. There are no economic reports to be released today and we should see a very low volume of trades. I do not suspect that we will have a rally or a big sell off, much more likely...
  • Wednesday 12/24...End of Day Update

    by Victor Burek on December 24 2008, 1:14 PM
    We had a little Christmas Eve rally, with the current mortgage backed security closing 7 ticks higher. Merry Christmas, be back on Friday.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.60%
  • |
  • 15 Yr FRM 4.16%
  • |
  • Jumbo 30 Year Fixed 4.38%
MBS Prices:
  • 30YR FNMA 4.5 103-12 (-0-02)
  • |
  • 30YR FNMA 5.0 104-20 (-0-02)
  • |
  • 30YR FNMA 5.5 105-24 (-0-09)
Recent Housing Data:
  • Mortgage Apps 0.03%
  • |
  • Refinance Index -0.10%
  • |
  • Purchase Index 0.12%